$3 billion raised for Copenhagen Infrastructure Partners' Growth Markets Fund II makes it nearly three times larger than its predecessor and expands firepower for renewable and power infrastructure in 15 markets.
$1.6 billion has already been committed across nine investments, and CIP expects the fund to be fully deployed within one to two years as electricity demand rises in middle-income economies.
Chile, Mexico and Romania anchor the early pipeline, including Chile's largest standalone battery project, Mexico's first large-scale solar-plus-storage projects, and the Pestera II onshore wind project.
CIP said the fund drew sovereign wealth funds, pension funds, DFIs and family offices, underscoring growing institutional appetite for emerging-market energy assets despite financing, regulatory and execution risks.
GMF II builds on a first fund expected to deliver about 8.7 GW across more than 50 projects in India and South Africa, testing whether large private pools can scale clean power in newer markets.